Category Archives: Politics

They are zombies because nobody wants them

Posted on February 18, 2015 by grim

From Housingwire: New York doubling down in fight against zombie foreclosures The State of New York doubling down in its efforts to fight back against the rising tide of zombie properties, which are homes that are vacant or abandoned during … Continue reading →

Posted in Foreclosures, Politics, Unrest | 108 Comments

Stop Sandy Foreclosures?

Posted on February 17, 2015 by grim

From the APP: EDITORIAL: Stop rising tide of foreclosures in N.J. Superstorm Sandy is still wreaking havoc in New Jersey nearly 21/2years after it moved away from the Jersey Shore. And the bureaucracy in New Jersey has made things worse. … Continue reading →

Posted in Foreclosures, Housing Recovery, Politics, Shore Real Estate | 152 Comments

The light at the end of the tunnel is a train…

Posted on February 13, 2015 by grim

From the Star Ledger: N.J. foreclosure rate among highest in nation, but dip may signal ‘light at end of tunnel’ Foreclosures activity in New Jersey fell last month, according to a new report, but the state’s foreclosure rate still remains … Continue reading →

Posted in Foreclosures, New Jersey Real Estate, Politics, Risky Lending | 74 Comments

Mistakes? So what! Fuggedaboudit!

Posted on February 12, 2015 by grim

From the WSJ: FHA Looks to Ease Banks’ Worry on Mortgage Mistakes A U.S. housing regulator is considering limiting one of the most powerful tools federal attorneys have to punish banks for making mistakes in mortgage lending, a move the … Continue reading →

Posted in Mortgages, Politics, Risky Lending | 100 Comments

NJ homes to get even more expensive

Posted on February 10, 2015 by grim

From the Star Ledger: Legislation to require sprinklers in new N.J. homes on fast track after Edgewater fire A bill that would require most new single and two-family homes built in New Jersey to be equipped with sprinkler systems is … Continue reading →

Posted in New Development, New Jersey Real Estate, Politics | 80 Comments

NYC – Where criminals store their wealth?

Posted on February 8, 2015 by grim

From the NYT: Stream of Foreign Wealth Flows to Elite New York Real Estate On the 74th floor of the Time Warner Center, Condominium 74B was purchased in 2010 for $15.65 million by a secretive entity called 25CC ST74B L.L.C. … Continue reading →

Posted in Economics, NYC, Politics, Unrest | 42 Comments

Death and Taxes

Posted on February 4, 2015 by grim

From the Star Ledger: N.J. property taxes top $8,000 per home after rising 2.2 percent last year New Jersey’s sky-high property taxes rose to new heights last year, from an average $7,988 in 2013 to $8,161 in 2014, according to … Continue reading →

Posted in New Jersey Real Estate, Politics, Property Taxes | 157 Comments

Zoning police coming to JC

Posted on January 20, 2015 by grim

From the Jersey Journal: Jersey City says new plan would crack down on code violators; real-estate agents aghast City officials are looking to embark on an aggressive new plan to ensure homes are compliant with local zoning rules. But the … Continue reading →

Posted in New Jersey Real Estate, Politics | 77 Comments

Bulldoze it all, turn it into a nature preserve

Posted on January 19, 2015 by grim

From the Philly Inquirer: Casino closings have big impact on A.C. property-tax base The loss of 8,000 jobs in Atlantic City’s casino industry in the last 12 months has sent shock waves through the region’s economy, but an even more … Continue reading →

Posted in Economics, Employment, Politics, Property Taxes | 81 Comments

Sound familiar?

Posted on January 8, 2015 by grim

From Bloomberg: Obama to Cut FHA Mortgage Insurance Premiums to Boost Homeownership In an effort to expand homeownership among lower-income buyers, President Barack Obama plans to cut mortgage-insurance premiums charged by a government agency. The annual fees the Federal Housing … Continue reading →

Posted in Mortgages, Politics, Risky Lending | 227 Comments

Who benefits from the MID?

Posted on December 26, 2014 by grim

From MarketWatch: Why the mortgage tax break isn’t helping many taxpayers For generations of U.S. homeowners, the tax deduction on mortgage interest has been a sacrosanct loophole that no one in Congress dare touch. But the collapse in interest rates … Continue reading →

Posted in Mortgages, National Real Estate, Politics | 8 Comments

3% is back

Posted on December 10, 2014 by grim

From MarketWatch: Feds hope 3%-down-mortgages will boost struggling housing market After announcing plans in October to boost lending for first-time and middle class borrowers by reducing down payment requirements, Fannie Mae and Freddie Mac this week detailed guidelines to banks … Continue reading →

Posted in Mortgages, Politics, Risky Lending | 115 Comments

Pressure to roll back FHA fees

Posted on December 3, 2014 by grim

From the Record: FHA faces more pressure to reduce borrowers’ annual fees After more than doubling home buyers’ annual fees in the wake of the housing bust, the Federal Housing Administration is facing pressure to roll back the fees, especially … Continue reading →

Posted in Housing Recovery, Mortgages, Politics | 129 Comments

Warren goes for the throat

Posted on November 20, 2014 by grim

From HousingWire: Sen. Warren accuses FHFA’s Watt: “You haven’t helped a single family” What started as a dry, lame-duck session hearing on the Federal Housing Finance Agency in the Senate Banking Committee on Wednesday, got heated when U.S. Sen. Elizabeth … Continue reading →

Posted in Foreclosures, Mortgages, Politics | 92 Comments

CRDA Wins Eminent Domain Case

Posted on November 18, 2014 by grim

From the APP: Judge: New Jersey can take piano tuner’s home An Atlantic City piano tuner cannot stop the Casino Reinvestment Development Authority from taking his family home, a state judge ruled Monday. Superior Court Judge Julio Mendez, who heard … Continue reading →

Posted in Politics, Shore Real Estate | 83 Comments